If you’ve ever been a caregiver for an elderly parent, you know how difficult it can be. Actually providing care to your Mom or Dad is just part of what you’re doing. There’s a lot of administrative tasks as well, including banking, paperwork of all kinds, dealing with Medicare / Medicaid and Social Security. Oh, and do you have legal authority to make decisions? Did your parents create an estate plan? Where is it? Caretaking is not easy. Here are a few practical tips:
By Charles J. Moore, Attorney at Law
The passing of tax legislation in Washington last month has a direct impact on estate planning for individuals and families. That is because the bill increases the federal individual estate exemption from $5.49 million to $11.2 million in 2018. For a couple the number is doubled to $22.4 million.